Apparel and home retailer The Bon-Ton Stores has narrowed its net loss slightly during Q2, despite improving margins during the period.
Total sales in the second quarter of fiscal 2010 decreased slightly to $608.6m.
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Bud Bergren, Bon-Ton CEO, said: “The results for the second quarter of 2010 met our expectations. We were pleased with the 90 basis-point increase in our gross margin rate. This helped drive the $4.3m improvement in operating loss, after providing for incentive compensation and retirement contribution accruals.
“Looking ahead we remain intently focused on driving sales as we continue to enhance our merchandise assortment by accelerating the penetration of exclusive and distinctive merchandise, tailoring our offerings by region and customer preference, and instituting innovative marketing programs. We believe we are on the right track to achieve our fiscal 2010 goals.”
The retailer updated full-year 2010 guidance for EBITDA to a range of $235m to $245m.
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Click here to view the company’s full Q2 statement.
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